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Supertanker freight rates up sharply as US-China trade war envelops ports

By Jeslyn Lerh and Florence Tan SINGAPORE (Reuters) -Supertanker freight rates surged this week and are set to stay elevated on U.S.-China tit-for-tat hikes in port fees and concerns about the fallout from U.S. sanctions on a major Chinese crude oil terminal. Chinese retaliatory port fees ...
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Pakistan and IMF reach preliminary deal to release $1.2 billion from bailout package

ISLAMABAD (AP) — Pakistan and the International Monetary Fund have reached a staff-level agreement for the release of $1.2 billion from the bailout package approved last year. The $7 billion bailout approved by the IMF in July 2024 aimed to keep Pakistan from defaulting on ...
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Honeywell sees aerospace supply chain improvements in electronics for planes

(Reuters) -The production of electronics for aviation is a bright spot in the aerospace supply chain, whereas manufacturing of some parts still remains challenging, a senior executive at supplier Honeywell told Reuters. While accessing some products like castings and forgings used for engine manufacturing remains ...
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Musk’s legal fight over $56 billion payday from Tesla enters final stage

By Tom Hals DOVER, Delaware (Reuters) -Elon Musk’s lawyers will urge the Delaware Supreme Court on Wednesday to restore his $56 billion pay package from Tesla, as one of the biggest corporate legal battles enters its final stage nearly two years after a lower court ...
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LVMH shares soar as glimmers from China brighten luxury gloom

LONDON (Reuters) -LMVH shares traded nearly 8% higher on the Tradegate platform on Wednesday, a day after the luxury group reported better-than-expected sales in the third quarter, driven by improved demand in China. The world’s largest luxury group’s shares were trading at 575.2 euros on ...
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Analysis-China to keep its ‘all about production’ economic playbook as rivalry with US intensifies

SINGAPORE/BEIJING (Reuters) -China’s Communist Party meets this month to map a five-year vision that prioritises high-tech manufacturing in its quest to upgrade its sprawling industries and project global power as its rivalry with the U.S. intensifies, analysts say. Known as a plenum, the meeting is ...
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Data darkness in US spreads a global shadow

By Leika Kihara and Howard Schneider TOKYO/WASHINGTON (Reuters) -The U.S. government shutdown that has turned off the official flow of data could begin clouding the view for policymakers in Japan and other countries where insight into the fortunes of the world’s biggest economy informs the ...
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China’s sanctions against US-linked Hanwha units seen as warning gesture, analysts say

By Joyce Lee SEOUL (Reuters) -China’s sanctions against five U.S.-linked affiliates of South Korean shipbuilder Hanwha Ocean are seen as a warning gesture without immediate impact, and Beijing is unlikely to gain much by expanding them, analysts said on Wednesday. The move, announced on Tuesday when ...
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Foxconn sees limited impact from China rare earths curbs for now

TAIPEI (Reuters) -Foxconn Chairman Young Liu said on Wednesday that there was limited impact on the company so far from China’s newly announced rare earths curbs. (Reporting by Wen-Yee Lee; Writing by Ben Blanchard; Editing by Muralikumar Anantharaman) Brought to you by www.srnnews.com
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Factbox-US holiday sales growth to be muted this year, forecasts show

(Reuters) -U.S. retailers are bracing for a subdued holiday shopping season this year as the economic fallout from President Donald Trump’s erratic trade policies leaves shoppers more cautious about buying extravagant gifts. The holiday selling season spans over three months from November to the end of ...
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OpenAI makes five-year plan to meet $1 trillion spending pledges, FT reports

(Reuters) -ChatGPT owner OpenAI is working on new revenue lines, debt partnerships and planning further fundraising as part of a five-year strategy to cover more than $1 trillion in pledged spending, the Financial Times reported on Wednesday. (Reporting by Mrinmay Dey in Bengaluru; Editing ...
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Morning Bid: Fed back on centre stage, for now

A look at the day ahead in European and global markets from Rae Wee Investors have chosen, at least for now, to look past simmering U.S.-China trade tensions, taking comfort instead from Federal Reserve Chair Jerome Powell’s remarks hinting at more rate cuts on the ...
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